POWER OF ATTRONEY

BVVSN MURTHY PATNAIK (Querist) 08 June 2011 This query is : Resolved

URGENT
PLEASE CLARIFY THE FOLLOWING;-

In the instant case the borrower created equitable mortgage by deposit of title deeds in favour of the Lender.

As per the executed Loan agreement between the lender & borrower one of the condition that
‘The lender may return the documents of title either/any of the borrowers notwithstanding any contrary advice/intimation from either/any of the borrowers at a later date’.

In the instant case the borrower created equitable mortgage by deposit of title deeds in favour of the Lender.

In view of the above, whether the original documents mortgaged with the Lender can be delivered to the GPA holder. If yes, what are the precautions to be taken & if the answer is no what are the reasons.

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R.Ramachandran (Expert) 08 June 2011
Are you asking this question from lender's perspective or from borrower's perspective?

BVVSN MURTHY PATNAIK (Querist) 08 June 2011
from lender's perspective

Guest (Expert) 14 June 2011
Yes,the Lender can be delivered to the GPA holder.
For further reading this format :
www.iba.org.in/Circularmember/Powerofattorney%5CPOA1.doc

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